The Goldman Sachs Group Lowers Azul (NYSE:AZUL) Price Target to $2.70

Azul (NYSE:AZUL) had its price target cut by The Goldman Sachs Group from $3.10 to $2.70 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Seaport Res Ptn cut shares of Azul from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.40.

Azul Price Performance

Shares of NYSE:AZUL opened at $2.36 on Thursday. Azul has a 1 year low of $1.57 and a 1 year high of $8.73. The firm has a market capitalization of $992.80 million, a PE ratio of -0.33 and a beta of 1.95. The business’s 50 day moving average price is $2.18 and its 200-day moving average price is $3.07.

Institutional Investors Weigh In On Azul

A number of hedge funds have recently modified their holdings of the company. SPX Gestao de Recursos Ltda boosted its holdings in Azul by 13,831.7% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after purchasing an additional 290,465 shares during the last quarter. Jane Street Group LLC raised its position in shares of Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock valued at $699,000 after buying an additional 75,291 shares during the period. Long Focus Capital Management LLC lifted its holdings in Azul by 106.3% in the second quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after acquiring an additional 2,295,000 shares during the last quarter. Marshall Wace LLP lifted its holdings in Azul by 2,466.5% in the second quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after acquiring an additional 575,344 shares during the last quarter. Finally, Creative Planning acquired a new stake in Azul during the third quarter worth $35,000. Hedge funds and other institutional investors own 0.82% of the company’s stock.

About Azul

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.